Unemployment rate remains low, approaching pre-pandemic levels |
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Business survey data:
Employers in Colorado added 4,500 nonfarm payroll jobs from May to June for a total of 2,857,400 jobs, according to the survey of business establishments. Private sector payroll jobs increased 2,400 and government added 2,100 jobs.
Over the past 26 months, Colorado has added 412,300 nonfarm payroll jobs, compared to losses totaling 374,500 in March and April 2020. That translates to a job recovery rate of 110.1 percent, which exceeds the U.S. rate of 97.6 percent.
Since May 2020, Colorado’s private sector has grown by 413,400 jobs, compared to declines of 358,800 in early 2020. That translates to a job recovery rate of 115.2 percent and outpaces the U.S. rate of 100.7 percent. With June gains, the U.S. has fully recovered the private sector jobs lost in March and April 2020.
Other highlights:
- May estimates were revised down to 2,852,900, and the over the month change from April to May was a gain of 2,900 rather than the originally estimated increase of 5,400 (monthly revisions are based on additional responses from businesses and government agencies since the last published estimates).
- Private industry sectors with significant job gains in June were: leisure and hospitality (~2,300), information (~1,000), and educational and health services (~1,000). Significant over the month private sector job loss occurred in financial activities (~1,900) and professional and business services (~1,800).
- Since June 2021, nonfarm payroll jobs have increased 111,700, with the private sector growing by 108,500 and government adding 3,200 jobs. The largest private sector job gains were in leisure and hospitality (~32,400), professional and business services (~28,400), and trade, transportation, and utilities (~16,200). No industry experienced job loss during that same period. Colorado’s rate of job growth over the past year is 4.1 percent, which slightly lags the U.S. rate of 4.3 percent.
- Over the year, the average workweek for all Colorado employees on private nonfarm payrolls decreased from 33.8 to 33.2 hours, while average hourly earnings grew from $31.60 to $34.21, two dollars and thirteen cents more than the national average hourly earnings of $32.08.
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Household survey data:
According to the survey of households, Colorado’s seasonally adjusted unemployment rate fell one-tenth of a percentage point in June to 3.4 percent. This marks the lowest rate since February 2020, when it was 2.8 percent. The national unemployment rate was 3.6 percent in June, unchanged from the prior three months.
Other highlights from the household survey:
- Colorado’s labor force grew by 8,200 in June to 3,248,800. The share of Coloradans participating in the labor force improved to 69.5 percent last month, the highest rate since March 2020.
- The number of individuals employed in Colorado increased by 11,000 in June to 3,137,000, which represents 67.1 percent of the state’s 16+ population. Colorado’s employment-to-population ratio is at its highest level since January 2009, which was 67.3 percent.
- The Colorado counties with the highest unemployment rates in June were: Huerfano (5.7%), Pueblo (5.0%), Las Animas (4.8%), Fremont (4.6%), Otero (4.1%), and Rio Grande (4.1%). County-level unemployment rates are not seasonally adjusted and are directly comparable to Colorado’s June unadjusted rate of 3.2 percent.
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Carolyn Tucker takes over business services in Eagle, Lake, Summit counties |
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We are excited to announce that Carolyn Tucker is now the workforce business services representative for Eagle, Lake and Summit counties in addition to her previous responsibilities in Pitkin and Garfield counties.
Former Business Services Coordinator for Eagle, Lake and Summit counties, Mark Hoblitzell, has accepted a data analyst position serving the Colorado Rural Workforce Consortium and will still support the Northwest Workforce Region.
Christina Oxley continues to provide business services for Rio Blanco, Moffat, Routt, Grand and Jackson counties.
Please reach out to Carolyn for any workforce needs, such as talent recruitment and retention, human resource support and labor market data and analysis. Carolyn brings a wealth of knowledge about the regional economy to her expanded region, including facilitating industry partnerships, supporting the creation of youth career pathways and helping employers unlock strategies in today's challenging labor market. Carolyn can be contacted via email at carolyn.tucker@state.co.us or by calling 970.880.4172.
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Implementing Family and Medical Leave Insurance program - Regional Town Hall
CMC - Edwards
150 Miller Ranch Rd., Rm 118
In-person and virtual
Noon - 1 p.m., Aug. 23
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Associated Governments of Northwest Colorado Energy Summit
Ute Theater - Rifle
132 E. 4th St.
In-person
9 a.m. - 4:45 p.m., Aug. 25
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Northwest Workforce Region Business Services |
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Christina Oxley
Rio Blanco, Moffat, Routt,
Grand and Jackson counties
970.620.1690
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Your business services staff, Christina Oxley and Carolyn Tucker, are highly trained, resourceful, out-of-the-box thinkers dedicated to businesses, community and economic development. We believe that thriving local economies are the best foundations for businesses to succeed, and that strong businesses contribute to thriving economies and meaningful employment. Our number one goal is to support businesses in attracting and retaining the talent they need to grow and thrive.
Our staff are experts in local labor markets and look forward to helping you with your workforce needs. Contact us to learn more about tailored services and resources to support your business.
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Carolyn Tucker
Eagle, Garfield, Lake,
Pitkin and Summit counties
970.880.4172
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Northwest Colorado Workforce Center offices |
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If you have a question about unemployment, please contact them directly at 1-800-388-5515. Workforce centers are no longer able to assist with unemployment insurance questions or claims. |
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CRAIG
Moffat County
970.824.3246
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EDWARDS
East Eagle County
970.926.4440
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LEADVILLE
Lake County
719.486.2428
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MEEKER
Rio Blanco County
970.878.4211
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FRISCO
Grand, Jackson
and Summit counties
970.668.5361
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GLENWOOD SPRINGS
Garfield, Pitkin and
West Eagle counties
970.945.8638
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STEAMBOAT
SPRINGS
Routt County
970.879.3075
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